Funding arb · Price arb /

DRAM

RWAall DRAM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0183%/8h= −20.0% APRpaid last 24h −0.044%

Price spread now: GRVT against Lighter−0.107%7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$160.160% of the position

Long on Lighter Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.225%−$23 on $10k

Price spread, last 3 days (all we have)+0.154%+$15 · spread now −0.107%, 7d avg +0.004%

Together, before fees−0.071%+ Points / potential airdropLighter: Season 3 · GRVT: Active · farm board−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and GRVT is 0.111% cheaper against Lighter than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.004%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter DRAM	61.806	0.0320	pay 0.0040% / 1h	29m 20s	$993K	$1.2M	20x
Short	GRVT DRAM_USDT_Perp	61.740	0.0137	get 0.0137% / 8h	1h 29m	$36K	$183K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee LighterbpFee GRVTbpOrdersPrice spread, now −0.107%Rate

Funding earned: −$38.43
Price spread: −0.107% → +0.004%: −$11.12
Slippage, 4 orders: −$7.05
Fee Lighter: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$65.6
Costs to cover: 0.160%
Break-even: never at this rate

Slippage from Lighter: live order book, 2 min ago; GRVT: live order book, 53 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Lighter live order book, 2 min ago	0.89 bp	1.0 bp −$1	1.7 bp −$17	25.1 bp −$2,507	doesn't fit
Sell GRVT live order book, 53 min ago	1.62 bp	8.1 bp −$8	18.1 bp −$181	doesn't fit	doesn't fit

DRAM on 34 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate DRAM_USDT	0.0000%	8h	61.790	−0.026%	$8.2M	$3.5M	75x	as long as short
SunX DRAM-USDT	0.0000%	8h	61.800	−0.010%	$824	$3.3M	10x	as long as short
HTX DRAM-USDT	0.0000%	8h	61.700	−0.172%	$28K	$3K	20x	as long as short
Phemex DRAMUSDT	0.0000%	8h	61.810	+0.006%	$1.8M	$1.3M	10x	as long as short
Aftermath Perps DRAMUSD	+0.0037%	1h	61.709	−0.157%	$1K	$36K	5x	as long as short
Vest DRAM-USD-PERP	+0.0046%	1h	61.700	−0.172%	—	$797	10x	as long as short
Entropy io:DRAM	+0.0050%	1h	61.681	−0.202%	$254K	$504K	25x	as long as short
Polymarket Perps DRAM-USD	+0.0050%	1h	61.748	−0.094%	$204K	$1.2M	10x	as long as short
SoDEX DRAM-USD	+0.0050%	1h	61.769	−0.060%	$2K	$15K	20x	as long as short
Ondo Perps DRAM-USD.P	+0.0050%	1h	61.700	−0.172%	$1.2M	$1.7M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX DRAM-USD	+0.0052%	1h	61.770	−0.058%	$1.0M	$77K	10x	as long as short
edgeX DRAMUSDC	+0.0061%	4h	61.737	−0.112%	$153K	$290K	20x	as long as short
Aster DRAMUSDT	+0.0100%	8h	61.740	−0.107%	$198K	$36K	20x	as long as short
Pacifica DRAM	+0.0100%	1h	61.693	−0.182%	$75K	$40K	10x	as long as short
KuCoin DRAMUSDTM	+0.0100%	8h	61.740	−0.107%	$3.0M	$476K	20x	as long as short
ApeX Omni DRAMUSDT	+0.0100%	1h	61.690	−0.188%	$22K	$184K	50x	as long as short
Orderly PERP_DRAM_USDC_mythos	+0.0100%	8h	61.780	−0.042%	$8K	—	10x	as long as short
Aevo DRAM-PERP	+0.0104%	1h	61.793	−0.021%	$4K	—	10x	as long as short
Bitget DRAMUSDT	+0.0109%	8h	61.800	−0.010%	$26.0M	$12.5M	20x	as long as short
OKX DRAM-USDT-SWAP	+0.0109%	8h	61.820	+0.023%	$5.4M	$4.6M	50x	as long as short
GRVT DRAM_USDT_Perpshort	+0.0137%	8h	61.740	−0.107%	$36K	$183K	10x
Paradex DRAM-USD-PERP	+0.0163%	8h	61.745	−0.098%	—	—	5x	as long as short
Variational Omni DRAM	+0.0187%	8h	61.727	−0.127%	$2.4M	$949K	—	as long as short
Coinbase International DRAM-PERP-INTX	+0.0208%	1h	61.580	−0.366%	$510K	$44K	20x	as long as short
Bybit DRAMUSDT	+0.0225%	8h	61.840	+0.055%	$9.3M	$10.4M	100x	as long as short
MEXC DRAM_USDT	+0.0231%	8h	61.780	−0.042%	$11.2M	$6.4M	100x	as long as short
Extended DRAM-USD	+0.0232%	1h	61.789	−0.028%	$102K	$741K	10x	as long as short
Binance DRAMUSDT	+0.0233%	8h	61.800	−0.010%	$43.8M	$82.6M	50x	as long as short
RISEx DRAM/USDC	+0.0257%	1h	61.778	−0.046%	$480K	$442K	20x	as long as short
Lighter DRAMlong	+0.0320%	1h	61.806	long leg	$993K	$1.2M	20x
tradeXYZ xyz:DRAM	+0.0324%	1h	61.759	−0.076%	$79.3M	$39.5M	20x	as long as short
Deribit DRAM_USDC-PERPETUAL	+0.0398%	1h	61.790	−0.026%	$13K	$9K	20x	as long as short
BloFin DRAM-USDT	+0.0432%	8h	61.770	−0.058%	$294K	$27K	20x	as long as short
Arcus DRAM-USD	+0.0649%	1h	61.770	−0.058%	$50K	$92K	10x	as long as short